Appointing Trustees/Guardians In Your Will
Appointment of Trustees
If you have minor children (under 18) it is desirable that you create a trust in your Will so that your appointed trustees can manage the trust until such time as your minor children come of age. The trust created in your Will comprises of whatever assets you wish to leave to your minor children e.g. house, money, life policies etc. A trust should also be created in your Will where you have a minor or adult child with special needs who will need assistance in looking after their own affairs.
Where a trust is created in your Will you will name people to carry out the terms of the trust for the benefit of the beneficiaires, which are known as the trustees. Your Will will make provision for an alternative trustee or trustees to be appointed should your choice of trustees be unable or unwilling to take on the role, or if they die before you. Normally the trustees are family members but this is not always the case. See further information on trusts here.
Appointment of Guardians
If you have minor children you should appoint guardians to look after your children. It is important that you appoint guardians in your Will in the event of your death if the other parent has predeceased you or where both parents die in a common circumstance.
You should regularly consider updating your Will to take into account that your appointed guardians' own circumstances may have changed and you may wish to appoint different guardians.
It is important to note that where you are survived by the other parent, in the majority of cases, the surviving parent is the legal guardian of the children.
Request a Call Back or contact us directly and one of our team will discuss your Will or Estate and how we can assist you.